In one of Elon Musk’s ever-quotable interviews, he mentioned something that has spurred quite a bit of debate online. Should we be afraid of the development of artificial intelligence, also known as AI?

“Increasingly scientists think there should be some regulatory oversight maybe at the national and international level, just to make sure that we don’t do something very foolish,” Musk stated. “With artificial intelligence we are summoning the demon.”

Yes, Elon Musk compared working in AI to summoning a demon.

But it’s not just Musk. Stephen Hawking and Bill Gates have also issued dire warnings on the topic. But the thing that is interesting about all of these tech leaders is that none of them are actually doing work in AI themselves; they’re merely reacting to the theoretical danger of AI without doing any of the practical work.

While there is a tendency to associate AI with sci-fi movies, in the real world AI is nothing close to the sentient computers shown in blockbuster movies. And while there’s a possibility that we might eventually reach that stage, it’s still quite a long ways off.

Some are so spooked by the idea that they propose federal regulation on this type of technology. But we have to remember that such regulation can often have a chilling effect. Look at the effect that making marijuana a Schedule I drug had on testing its medical capabilities, for example. For a fledgling technology that isn’t anywhere close to being a real danger yet, putting undue restrictions on it could cause the entire industry to be stillborn.

Should we worry? Maybe. But let’s not panic about our space elevators until they’re funded, okay?